Several years ago, the humorous answer in the Spring Festival Gala skit "How many steps should you put the elephant in the refrigerator?" amused the audience across the country. After that, you will find that behind the answer actually contains a methodology for solving problems: many seemingly difficult to achieve, as long as you can: first, understand the connotation of the problem; second, place important elements to solve the problem; third, realize the integration of the scene. The problem can be solved easily.
In recent years, due to the huge customer base of bank retail business, although it has been affected by Internet finance and its market share has been eroded, but its overall performance contribution is stable and is still regarded as the ballast of bank profit contribution. However, the question is, how can we play the role of the "ballast" of the retail business more effectively? For now, digital solutions have become a necessary and sufficient condition.
Nantian Information has launched a digital solution for new retail business based on its deep understanding of banks and its service accumulation. It has been implemented in many banks. The customer system of a certain Rural Commercial bank has achieved remarkable results after it was launched. In the first three quarters of 2021, the transaction volume of merchants increased by by times year-on-year, and the peak reached 200 times last year.
What difficulties should be encountered in the practice of bank new retail business need to be solved urgently? How to close the refrigerator door after it is opened? From the logic of solving the problem, the digital solution for bank new retail business provided by Nantian Information is actually the same as the answers of the Spring Festival Gala skit.
01 Open the "refrigerator door" - a portrait of "new retail", let the transformation target
Question: Why is the bank retail business currently praised as "new retail"? Where is the "new"?
Answer: Compared with the traditional product-centered business model, the meaning of "new" in new retail is mainly reflected in: First, the customer's business thinking has changed from "product-centered" to "customer-centered", which has brought about a series of changes in business processes, organizational structure, product design, marketing methods, customer service, etc.; Second, in the profit model, more intermediate business income is generated through "traffic operation", opening up the second curve of profit growth of retail financial business.
Question: At present, what pain points are facing the business model of bank new retail?
Answer: The new retail business system has expanded from the relationship between the bank-customer to the relationship between the bank-customer-merchant-operator, and other four parties. It is necessary to establish management tools in five dimensions, including customers, products, services, marketing, and performance; it is necessary to establish a joint operation platform externally, and open relevant capabilities such as payment, equity, profit sharing, and data security sharing to the joint operators. Therefore, the pain point is that banks need a "one-stop" operation and management middle platform to connect various business systems, integrate business processes, and intuitively present various operation data to improve management efficiency.
02 Put "new retail" in - directly hit the business pain points and realize digital operations
Question: Why is the industry generally believed that compared to "hiring new products", the meticulous cultivation of existing customers is a greater challenge?
Answer: At present, the number of bank cards issuing is becoming saturated, the number of customers is growing weakly, and there are common problems such as low customer activity and low VIP share. How to become the "first-choice financial account bank" in the minds of customers is a question that banks must think about.
The core goal of the digital solution for the new retail business of the bank is to build the required scenario services for the bank, improve customer card experience and activity, cultivate user habits, help banks build brand awareness and influence, and ultimately become the "first-choice financial account bank" for customers. For example, a customer who applied this solution has increased by more than 30% annually in recent years, and his activity and credit balance have continued to grow, becoming one of the highlights of the bank's retail business development.
Question: The bank’s retail business system is complex, but Nantian Information can provide a complete set of middle-end capabilities. What difficulties should be overcome?
Answer: Nantian Information has been deeply involved in the financial industry for more than 30 years, has accumulated rich experience in the retail finance field, and has also possessed the expert resource advantages of the Innovation Institute. It abstractly modeled the retail business, established systematic solutions, and created supporting support platforms and tools, namely the unified operation and management middle platform for retail business, truly helping the retail business department improve management efficiency and operating performance.
Question: Please give an example to illustrate how the unified operation and management middle platform for retail business directly hits the pain points of banking business? What is the actual effect?
Answer: The unified operation and management middle platform of retail business can meet the needs of front-line account managers, product managers, resource managers, marketing managers and managers at all levels of the general branch, realize cross-department and cross-team work collaboration, and support business departments to quickly complete customer model and customer relationship analysis, equity product creation, financial product release, marketing activity configuration, activity performance evaluation, performance measurement and data visualization display. The management team relies on operational data to make timely business decisions to achieve true "digital operations".
For example, a rural commercial bank has achieved continuous growth in retail business revenue, profit scale, and interbank market share through the unified operation and management middle platform of retail business, and the number of core indicators such as the number of effective customers, the number of VIP customers, the number of three-dimensional customers, and the number of active customers have increased significantly. The platform is hailed by customers as the "strongest brain" of retail business.
03 Close the "refrigerator door" - keep the scene fresh through digital operations
Question: Please explain in combination with the scenario how new retail business is derived in the ecological environment of the three-stream "customer flow, capital flow, and information flow" BBC (Bank-Business-Customer, bank-merchant-customer)? How does the retail business unified operation management middle platform connect the five major management platforms of customers, services, marketing, products and performance to provide services? If there is something missing, is it difficult to implement the scene?
Answer: The integration of three-stream "customer flow, capital flow, and information flow" is the key to the digital operation of retail business. It is customer-centric and uses activity MAU (Monthly Active User) as the Polaris indicator to guide the design of the operation plan, and create personalized financial products and attractive equity products for customers based on customer portraits. Intelligently reach customers through marketing tools, present event results in real time through performance display, optimize operation plans through event performance analysis, form a virtuous cycle of PDCA (planning, implementation, inspection, action) and continuously improve operational efficiency. Therefore, the five submodules of the retail business unified operation and management middle platform, customer management, service management, marketing management, , product management, and performance management, are organic combinations and none of them are missing.
Question: In the absence of any of the five major platforms, can customers choose some of the platforms according to their needs? So how to achieve closed-loop operation of scenarios? How does Nantian Information meet the personalized and differentiated needs of banks’ new retail business scenarios?
Answer: First of all, the retail business unified operation management middle platform consists of multiple subsystems, and each subsystem interacts through API interfaces and data sharing solutions. If the bank has built a system of the same type, there is no need for repeated construction. It can achieve interconnection through open interfaces, relying on the data governance platform to achieve unified data standards and unified caliber, maximize effective management and make good use of data assets, and achieve low-cost operations.
Secondly, Nantian Information tailored the solutions based on the actual situation of customers, and the support platforms and tools are well adaptable, and can carry out secondary development according to customer needs. For example, the intelligent marketing platform is based on template technology and has a wealth of out-of-the-box templates such as recommendation card application, product referral, offline event salon management, etc. It can also design new templates based on the event ideas, so that more complex marketing activities can be easily implemented.
Question: How can the digital solution of bank new retail business help banks achieve seamless connection with scenarios and continuously improve the user experience of new retail business?
Answer: The core idea of the solution lies in the intelligent driving and intelligent linkage of data, helping banks to obtain holographic views of customers' products, channels, risks, financial management and other preferences, create quantitative models for business applications, support matching business indicators, quickly generate marketing clues, and provide customers with differentiated product and service strategies.
However, banks need to complete the transformation and upgrading of new retail business and achieve seamless connection with scenarios in three steps: the first is to complete the upgrade of their business philosophy, that is, the transformation from "product-centered" to "customer-centered"; second, make good use of the "tool" of retail business operation management middle platform to build an efficient and coordinated business operation mechanism; third, improve user experience through omni-channel, acquire customers in multiple scenarios and batches, and operate in a refined manner, providing customers with "right-hand" services.
Conclusion
customer-centric and data-driven, Nantian Information will continue to study the business model of bank new retail business, continuously optimize product functions and user experience, and strive to provide bank customers with full-stack services such as strategic planning consultation, project implementation, joint operation ecosystem construction, and digital operations to help banks create new value for retail business.
